Famous Chinese company Foxconn is rumored to be working with Amazon on a new smartphone, the Amazon Phone that people have been speculating about for a year now. The company is also supposed to be preparing 3-4 new tablets, so they have a lot of plans for the near future.

Manufacturers in the phone biz shipped 398.4 million smartphones and other mobile devices in the first quarter of the year, according to IDC, so it’s easy to understand why Amazon wants a slice of that. Amazon must do a bit of shopping before releasing this product, since it has to buy some wireless patents to make sure it won’t have to deal with the likes of Apple suing them. The creator of the Kindle Fire increased its patent portofolio by hiring Matt Gordon, former senior director of acquisitions at Intellectual Ventures Managements LLC.

This company owns more that 35,000 intellectual property assets and Gordon will handle patent investments and acquisitions at Amazon. Expectations for the smartphone are great and I predict a dual core handset with a HD or qHD display, thin case, decent battery, 5MP camera, good battery , customized Android, focused on Amazon’s services and maybe NFC + LTE. Also, the price should be around $200 or so…

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